He Uruguayan unicorn dLocal achieved a record $6 billion in its Total Payment Volume (TPV), as confirmed by the fintech when presenting its second quarter results, which closed with a year-on-year increase of 38%.
The fintech The leader in cross-border payments with a presence in more than 40 countries has thus managed to boost its shares, which are listed on the Nasdaq, which are moving away from their historical lows, with an increase of 3.48% this Thursday, to 8.03 dollars.
In this way, the stock price has accumulated an improvement of 5.80%, which adds to the increase of 6.15% achieved the previous week, after having touched its minimum peak on the 4th of this month, at $6.91.
dLocal CEO celebrated the results
“These results also underscore our unique value proposition as a trusted partner to some of the world’s largest and most sophisticated companies in the emerging markets”, He highlighted the CEO of dLocal, Pedro Arnt, who also posted a video with the results on the company’s X account.
Arnt called the upgrade “a one-of-a-kind combination of growth “While focusing on reputable verticals,” he said, “This differentiates us from our relevant competitor base, which is either growing less, or focusing on high-risk verticals, or both.”
The fintech also assessed that the POS’s performance was good across multiple verticals, including continued strong growth in commerce, on-demand delivery and remittance sending, as well as accelerating growth in SaaS and road transport, which is why they considered that they are “in a great place to continue growing in the long term.”
dLocal’s key achievements in the second quarter
In addition to the good data in the volume of payments, the unicorn managed to get its net income amounted to $46 million, an increase of 161% compared to the first quarter.
In turn, dLocal achieved between April and June a operating profit of 30 million dollars, while the Adjusted EBITDA reached 43 million. This was accompanied by significant liquidity, with a total of 306 million dollars in cash and equivalents.
The fintech kept stable net hiring rates and recorded an improvement in the gross profits 11% compared to the previous quarter.
This is added to the announcement of a program of share buyback of up to 200 million dollars, so the specialized site Investing considered that there are “optimistic outlook” long-term focused on TPV growth.”7
In turn, in Latin America, Revenue increased 9% year-over-year to $138.7 million, accounting for 81% of total revenue. Growth was driven primarily by commerce and streaming. Mexico, and the solid performance in other countries in the region, while in Argentina Gross profit grew by almost 50% quarter-on-quarter.
Source: Ambito
